On March 20, 2025, the Tax Department issued a key update regarding the submission of the Income Tax Return for the tax year 2023 for companies and self-employed individuals who are required to prepare accounts. This announcement provides clarification on the official deadlines and the corresponding penalties for late submissions.
Deadline for Submission of Income Tax Returns (T.D.4 and T.D.1): According to the Assessment and Collection of Taxes Law (Law No. 4/1978), the original deadline for submitting the Income Tax Return for Companies (Form T.D.4) and for Self-Employed individuals with an obligation to prepare accounts (Form T.D.1) for the tax year 2023, is March 31, 2025. This deadline applies to taxpayers who do not have an obligation to submit a Summary Information Table concerning Controlled Transactions.
Extension and Penalty Relief: The announcement further clarifies that, by a decision of the Tax Commissioner, taxpayers will not incur the usual €100 late fee if the returns are submitted by June 30, 2025. However, submissions made after June 30, 2025, will incur a €100 late filing penalty.
Additional Deadline for Taxpayers with Controlled Transactions: It is important to note that according to Regulatory Administrative Act (Κ.Δ.Π. 383/2024), taxpayers who, under Article 33(10) of the Income Tax Law, are required to submit a Summary Information Table for Controlled Transactions, have an extended deadline of November 30, 2025 to submit their Income Tax Return for the tax year 2023.
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